Local and State Economic Development Programs Summary

Established Local Incentive Programs

The City of Melbourne has the ability to structure incentive programs for substantial projects on a per project basis, taking into account the projected economic impact to the community. Therefore, incentives for your project may not be limited to what is listed below. Contact staff for more information and assistance.

Melbourne Economic Enhancement District (MEED)

MEED Program – Applications & Guidelines
Established in 2008, this District was created to encourage economic and redevelopment opportunities that create new jobs, improve the environment, and revitalize neighborhoods. The program incentives consist of two separate State initiatives. One set of incentives focuses on economic development and redevelopment opportunities offered through Enterprise Florida. Enterprise Florida works under the auspices of the Governor’s Department of Economic Opportunity (DEO). A second set of incentives are offered through the Florida Department of Environmental Protection (FDEP), for redevelopment projects that also remediate contaminated sites.The programs may be used separately or together depending upon the individual project. City of Melbourne staff, in cooperation with appropriate state agency, will provide the applicant with the technical assistance to navigate the program.

Public-Private Development Program – Application & Guidelines
This program will enable the CRA to enter into public-private partnerships for facilitation of desired real estate development projects that will have a minimum of $5 million in capital investment. The CRA would utilize tax increment finance (TIF) and/or other CRA assets to leverage private real estate investment opportunities and develop markets that are deficient or that do not currently exist in Downtown Melbourne. Currently, the CRA is focusing their efforts on attracting mixed-use, hotel and residential projects, which have been determined to be deficient in the area.

Retail Core Commercial Lighting Program – Application & Guidelines
The Melbourne Downtown CRA is providing $20,000 in funding for a lighting enhancement program within the downtown retail core. Funding is available until September 30, 2017 or until the program budget is depleted. Grant funding is provided to encourage building owners or businesses to make exterior lighting improvements in considerations of customer and pedestrian safety. These enhancements benefit both private properties and adjacent public spaces, improving general public safety by lighting pedestrian areas. The Program will pay for 90% of the hard costs for the improvements and the applicant is responsible for 10% of the hard costs, plus associated costs such as permits. Commercial buildings with one or two storefronts may receive up to $1,200 and buildings with three or more storefronts may receive up to $2,000.

Art Overlay Incentive Program – Application & Guidelines
A match of up to $7,500 may be granted to eligible properties that are converting from residential to commercial or mixed-use. The grant may be used for both interior and exterior improvements associated with a change in use.

Real Estate Investment Refund Program – Application & Guidelines
To attract new private investment as a tool for redevelopment, the Olde Eau Gallie Riverfront CRA is providing incentive grants for projects that establish substantial investment in the community. The award will be an annual refund on a portion of the new real property taxes paid into the CRA trust fund, resulting from the redevelopment of property within the CRA. The percentage and term of the award will be dependent upon the strength of the application. Tax increment finances (TIF) from site specific improvements will be utilized for the grant as a refund after the improvements are completed and are on the tax roll.